Bank Secrecy Act Specialist

## Description

**PRIMARY FUNCTION:**

This position supports the credit union’s Bank Secrecy Act (BSA), Anti Money Laundering (AML), and Office of Foreign Assets Control (OFAC) compliance program. This role is responsible for monitoring member activity, conducting investigations, and preparing regulatory filings ensuring the credit union meets all federal and state requirements related to financial crimes prevention. This role works closely with internal departments to identify risk, maintain accurate records, and uphold the credit union’s commitment to safety and soundness.

**PRINCIPAL DUTIES RESPONSIBILITIES:**

1. Support the organization’s BSA, AML, and CFT compliance program, including day to day operations, ensuring adherence to all applicable laws and regulations.
2. Monitor OFAC FinCEN compliance utilizing the Fraud and Anti Money Laundering software.
3. Prepare, review, and file all Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs).
4. Assist with updating BSA AML policies, procedures, and risk assessments in collaboration with the supervisor.
5. Ensure timely 314(a) duties and communications, as well as 314(b) registration and collaboration.
6. Review, investigate, and disposition fraud and anti money laundering alerts (Fraud, AML, etc.).
7. Investigate unusual or suspicious activity involving deposits, withdrawals, wires, ACH, loans, and digital banking.
8. Perform Enhanced Due Diligence (EDD) on high risk accounts and review fraud and anti money laundering alerts.
9. Oversee the Customer Due Diligence (CDD) program, communicating with management on performance.
10. Ensure OFAC lists are updated in a timely manner, scanning occurs according to regulatory requirements and investigate potential OFAC matches.
11. Maintain record retention (storage and retrieval) of all required compliance documentation.
12. Actively and thoughtfully communicating with their supervisor, planning their goals and development, taking accountability for their actions and striving for excellence.

**GENERAL DUTIES RESPONSIBILITIES:**

1. Promote products and services.
2. Attend all meetings as required.
3. Maintain clean and professional work area and appearance.
4. Maintain positive public relations and promote credit union within the community.
5. Complete educational programs as required.
6. Perform the following commitments of service to each and every member at all times:

• a. Make a good first impression, be dressed professionally and greet people with a smile and a firm handshake.
• b. Keep a smile in my voice as well as on my face.
• c. Answer the telephone by the third ring.
• d. Call people by name and thank them.
• e. Give people my full and undivided attention; focus on the person face to face and on the telephone.
• f. Take responsibility for solving the individual's problem instead of referring it to someone else.
• g. Deliver on commitments of action(s) to be taken, so excuses won't be necessary.
• h. Follow through on necessary action(s) to be sure the problem is solved.
• i. Know that what's important is not only who or what created the problem but how the problem can be corrected.
• j. Protect confidential information.

1. Other duties as assigned.

## Qualifications
**REQUIREMENTS OF THE POSITION:**

• Bachelor’s degree in business, finance or equal experience in a related field.
• Bank Secrecy Act (BSA) certification or willingness to complete in next twelve months.
• Three to five years’ experience in financial industry.
• Experience with Fraud and Anti-Money Laundering software.
• Excellent communication and organizational skills.
• Ability to perform under pressure.
• Knowledge of all laws and regulations regarding this position.
• Problem solving ability.
• Proficient in Word and Excel.
• Excellent analytical skills.
• Team player.
• Knowledge of credit union operations.
• Decision-making skills.

**PHYSICAL REQUIREMENTS:**

Sedentary work – Exerting up to 10 pounds of force occasionally and/or negligible amount of force frequently or constantly to lift, carry, push, pull or otherwise move objects, including the human body. Sedentary work involves sitting most of the time. Jobs are sedentary if walking and standing are required only occasionally and all other sedentary criteria are met.

**PHYSICAL ACTIVITIES:**

The following physical activities will be required on a day-to-day basis: climbing, stooping, crouching, reaching, walking, pulling, fingering, feeling, hearing, balancing, kneeling, crawling, standing, pushing, lifting, grasping, talking, repetitive motions.

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed are representative, and reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions if they are otherwise qualified.

**VISUAL/PERCEPTION ACTIVITY:**

Administrative, Clerical, Data Entry operators, Inspection, (work at distances close to the eyes).

**WORKING CONDITIONS:**

None. The worker is not substantially exposed to adverse environmental conditions.

**HUMAN RELATION SKILLS NEEDED:**

The ability to communicate effectively with members, staff, and contacts outside of the credit union in a polite, courteous, timely, accurate and efficient manner. Patience in dealing with a difficult situation.

**INTERNAL TRAINING REQUIREMENTS:**

Please refer to the credit union intranet for the internal training requirements for this position.

**ANNUAL TRAINING REQUIREMENTS:**

Compliance and Regulatory (BSA, OFAC, etc.)

Security Awareness Training

Diversity, Ethics, Sexual Harassment, and Sensitivity